Excel Maritime Revert To Neutral
We upgrade our recommendation on Excel Maritime Carriers Ltd. (NYSE:EXM) to Neutral based on its current valuation, which plummeted 71.4% last year. This was primarily attributable to the gloomy prospects of the drybulk shipping industry. This sector is facing serious challenges since the spot vessel rates collapsed significantly. We believe the sole reason for this [...]
We upgrade our recommendation on Excel Maritime Carriers Ltd. (NYSE:EXM) to Neutral based on its current valuation, which plummeted 71.4% last year. This was primarily attributable to the gloomy prospects of the drybulk shipping industry. This sector is facing serious challenges since the spot vessel rates collapsed significantly.
We believe the sole reason for this dismal condition is the sheer increase of newbuild ships under operation that resulted in intense price competition. Excel Maritime … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards